Zedge (NYSEAMERICAN:ZDGE) Upgraded at Zacks Research

Zedge (NYSEAMERICAN:ZDGE) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Zedge Price Performance

Zedge stock opened at $3.01 on Monday. The stock has a market cap of $37.75 million, a price-to-earnings ratio of -33.44 and a beta of 1.26. The firm has a 50-day moving average of $3.10 and a two-hundred day moving average of $3.12. Zedge has a 1 year low of $2.21 and a 1 year high of $4.89.

Zedge (NYSEAMERICAN:ZDGE) last issued its earnings results on Thursday, June 11th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $7.99 million for the quarter, compared to analyst estimates of $7.00 million. Zedge had a negative net margin of 3.62% and a positive return on equity of 11.18%. Research analysts expect that Zedge will post 0.31 earnings per share for the current year.

Institutional Trading of Zedge

Several institutional investors and hedge funds have recently made changes to their positions in ZDGE. NewEdge Advisors LLC lifted its stake in Zedge by 2,923.0% in the first quarter. NewEdge Advisors LLC now owns 58,918 shares of the company’s stock worth $173,000 after acquiring an additional 56,969 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of Zedge by 1,982.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 50,653 shares of the company’s stock worth $148,000 after purchasing an additional 48,221 shares during the period. HRT Financial LP purchased a new stake in shares of Zedge in the 4th quarter worth approximately $158,000. Goldman Sachs Group Inc. boosted its stake in shares of Zedge by 35.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 42,029 shares of the company’s stock valued at $138,000 after purchasing an additional 11,022 shares in the last quarter. Finally, Bailard Inc. increased its holdings in Zedge by 51.1% during the fourth quarter. Bailard Inc. now owns 60,100 shares of the company’s stock valued at $197,000 after buying an additional 20,337 shares during the period. 29.37% of the stock is currently owned by institutional investors.

Key Stories Impacting Zedge

Here are the key news stories impacting Zedge this week:

• Positive Sentiment: Maxim Group’s forecast implies Zedge could remain profitable over the next several years, with EPS estimates of $0.31 for FY2026, $0.27 for FY2027, and $0.28 for FY2028.
• Neutral Sentiment: The firm also outlined quarterly estimates for 2027 and 2028, suggesting relatively steady but not rapidly accelerating earnings expectations.
• Negative Sentiment: The analyst updates did not raise estimates or signal an upside surprise, which may have disappointed investors looking for stronger growth momentum in Zedge’s earnings outlook.

Zedge Company Profile

Zedge, Inc (NYSE American: ZDGE) is a digital media and technology company that operates a mobile personalization platform. Through its flagship Zedge app and website, the company provides consumers with a wide range of downloadable digital content, including wallpapers, ringtones, notification sounds, app icons and lock screens. The platform accommodates both free and premium content, enabling users to customize their smartphones and tablets according to personal taste.

The company’s platform features content created by independent designers and established media brands, and it supports multiple languages and regional preferences.